You can use IndexOf() function to do that.
%%[
Var @str, @var, @msg
/* Set the value to check */
Set @var = "Dog"
/* Set the string to check */
Set @str = "MyDogIsMyFriend"
/* Does it match */
if IndexOf(@str,@var) > 0 then
Set @msg = "We Found It"
else
else Set @msg = "We didn't Findfind it"
endif
]%%
%%= v%%=v(@msg) =%%
I've been looking for the same solution and I found the answer to the similar question on 3sixty.